Question

Bought goods from Abroad journal entry

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Answer 1

Answer:

purchases A/C. Dr.

To, Abroad A/C

Explanation:

purchase : nominal a/c , expense, Dr all expenses & losses.

Abroad :name, personal a/c, Cr the giver

Answer 2

Explanation:

where Purchases is a nominal account(all expenses incomes gains losses come under nominal account) , cash is a real account. (All assets and Liabilities come under Real account).. As Per the above rules.. since Purchase is expense should be debited and cash is going out should be credited....